I installed a new boiler in a rental property last year for $14,000. I am selling the building and prefer to expense this not depreciate it. Is this an option?

[Leonard · Accepted solution]

No this is not an option.  The new boiler is a capital improvement and cannot be expensed, it needs to be depreciated.  The cost of the boiler will be added to your adjusted cost basis for your rental property

[mbardshore]

thanks.  Not the answer I wanted to hear of course but it was the answer that I thought I would get Thanks for confirming

[sfshore2]

follow up question - if I can - when I sell the building what improvements can I use to adjust my cost basis? ONLY capital improvements ( ie things that were depreciated)  If I did improvements that were not depreciated but I have receipts, can I use these to adjust the cost basis also?